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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hanwha Aerospace will sign a contract to deliver trillions of won worth of infantry armored vehicles to Australia as early as early this month.
Hanwha Group Vice Chairman Kim Dong-kwan is expected to attend the signing ceremony in person. Redback is K-Defense's first strategic weapons system export and local production system model.
Hanwha Aerospace announced on the 4th that it will sign the main contract for 129 red bags this month, which were selected as preferred bidders for the Australian government's infantry combat vehicle (IFV) introduction project at the end of July.
The order amount is estimated to be more than 6 trillion won, including Redback 129 delivery, maintenance, and follow-up support projects. It will be deployed to Australian troops from the second half of 2027.
As Hanwha Group is highly symbolic of this contract, Vice Chairman Kim Dong-kwan is likely to attend the signing ceremony with the Australian government.
Once this contract is signed, Hanwha Aerospace produces Redback in Australia. It is expected to produce all 129 units locally. Raw materials such as steel and major parts needed to produce red bags are also planned to be procured locally.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
